REV 2020FEB SHADOW CREEK RANCH VILLAGE ASS OCIAT ION Collection Timeline Date Action Item Prior to Dec ember 1 Assessment Coupon s are mailed to all owners January 1 Assessment due date On or after M arch 1 Mail Final Notice (30 day) with Property Code 209 disclosure to delinquent owners by Certified Mail Certified Letter F ee: $37.13 On or b efore April 1 5 Board transfers delinquent a ccounts to Collection Attorney Transfer F ee: $100.00 On or b efore May 1 Attorney orders a title search and sends initial demand letter to delinquent own ers On or b efore June Attorney sends a “Last Ditch Letter” to delinquent owne rs On or b efore July Attorney files an Application for Expedited Foreclosure/or attorney files lawsuit for Judicial Foreclosure Note: Anticipate 40 to 65 d ays for se rvice of citation and the answ er deadline on the Application for Expedited Fo reclosur e.
*Within 10 days of receiving a signed Order for Expedited Foreclosure from the Court, attorney shall post the prop erty for the n ext available s ale and as authorized by law.
REV 2020FEB Handling of Delinq uent Accounts Defaults on Pa yment Plan Agreements ori ginated by the HIA are to be r eferred to collections within 5 business days Partial payments CANNOT be accepted by the HOA once an account is handled by legal, as the owner’s account is blocked.
All communications from owne rs and third parties (including title companies) shall be directed to legal once the account is pla ced with the firm HOA shall notify the firm of any additional charges placed on the owne r’s account (i.e. deed restriction violations ) at the time such amount char ged the reon Payment Agreements originated by the attorney to be limited to a 3-month maximum payout
aced on the owne r’s account (i.e. deed restriction violations ) at the time such amount char ged the reon Payment Agreements originated by the attorney to be limited to a 3-month maximum payout unless diffe rent pa yment ar rangements authorized by HOA Board The Attorney will confer with Board on a case-by-case basis as to whether to file a Notice of Foreclosure The Attorney will not ify the Board at least 2 w eeks in adv ance of any schedul ed sale Shadow Creek Ranch Village Association Legal Representation Firm is Sears, Bennett and Gerdes LLP 6548 Greatwood Parkway | Sugar Land, Texas 77479 Phone: (713) 782 -1788 | Fax: (713) 782 -1787 http://www.searsfirm.com/ [email protected] ǀ [email protected] All communications from owners and third parties (including title companies) shall be directed to legal once the account is placed with the firm